MANILA, Feb. 9 -- Finance Secretary Ralph Recto said he does not expect interest rates to further increase as inflation is already easing.

"I don't expect a future rate hike because inflation is going down and it seems that it's going down globally also," Finance Secretary Ralph Recto said on the sidelines of the Bureau of Internal Revenue's National Tax Campaign kick-off on Thursday.

Recto is the government representative to the Bangko Sentral ng Pilipinas' Monetary Board (MB).

Headline inflation settled at 2.8 percent in January, the lowest recorded since October 2020.

The BSP's MB has so far kept policy rates unchanged for two consecutive meetings. It is scheduled to hold its rate-setting meeting on Feb. 15.

"I think our policy ra...